AUGUSTA, Maine — The expected fall of gasoline prices with the end of the summer driving season still isn’t here, as the average retail cost of a gallon of gas in Maine jumped nearly a nickel in the past week.
Price-monitoring website MaineGasPrices.com reports Monday that gas is up to $3.94 a gallon in Maine, 13 cents higher than the national average.
Prices are now more than 20 cents per gallon higher than the same day a year ago and more than 16 cents per gallon higher than a month ago.
A company analyst says supply remains tight and the oil industry is still bringing capacity back after Hurricane Isaac hit the Gulf.
Supply and demand. Gas prices, when adjusted for inflation, are about where they should be. It is the complete failure of wages to keep pace with inflation over the last 20 years since the advent of “free” trade that just makes gas and heating oil seem much more expensive. Gas is taking a bigger bite out of a shrinking pay check, plain and simple. Gas prices are controlled by the spot price of crude on the world market, refining capacity, and availability. Not by screaming at the dim wits in Washington.
“Gas prices are controlled by the spot price of crude on the world market, refining capacity, and availability”. And moreso by the speculators in the futures markets which increases price volatility by a factor of about 3.
I am so elated to know that gas prices are controlled that way. I was beginning to think that Caliais was off the map. The price in Calais didn’t go up 5 cents. It went up 11 cents in one day.
Gas prices are controlled by people. Its only a matter of time before there is not enough to go around. Say by by to it being under $4….up up and away…..:)
Remember when gas prices were high 4 years ago? It was all Bush’s fault. Nary a word in the press about Obama and high gas prices.